Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 864,144 shares of the company’s stock, valued at approximately $94,858,000.
A number of other hedge funds also recently modified their holdings of the business. Beverly Hills Private Wealth LLC acquired a new stake in shares of Kimberly-Clark in the second quarter worth $304,000. OneDigital Investment Advisors LLC acquired a new position in Kimberly-Clark during the second quarter valued at $9,228,000. AMG National Trust Bank acquired a new position in Kimberly-Clark during the second quarter valued at $439,000. Simplicity Wealth LLC purchased a new stake in Kimberly-Clark in the 2nd quarter worth about $473,000. Finally, Wealth Effects LLC acquired a new stake in Kimberly-Clark during the 2nd quarter worth about $481,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on KMB shares. Seaport Research Partners raised Kimberly-Clark to a “buy” rating in a research note on Tuesday, August 4th. TD Cowen increased their price target on shares of Kimberly-Clark from $96.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their price target on shares of Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. UBS Group boosted their price objective on shares of Kimberly-Clark from $115.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $117.93.
Kimberly-Clark Stock Down 0.2%
KMB opened at $107.72 on Wednesday. The company has a market capitalization of $35.83 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.26. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. Kimberly-Clark Corporation has a fifty-two week low of $92.42 and a fifty-two week high of $136.17. The business has a 50-day moving average of $108.45 and a 200-day moving average of $103.25.
Kimberly-Clark (NASDAQ:KMB – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $1.92 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that Kimberly-Clark Corporation will post 7.43 EPS for the current fiscal year.
Kimberly-Clark Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be issued a dividend of $1.28 per share. The ex-dividend date is Friday, September 4th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.8%. Kimberly-Clark’s dividend payout ratio (DPR) is currently 87.07%.
Kimberly-Clark Company Profile
Kimberly-Clark Corporation is a U.S.-based multinational manufacturer of personal care and consumer tissue products. The company develops, produces and markets a range of consumer brands and professional products, including facial and bathroom tissues, disposable diapers and training pants, feminine care, incontinence products and workplace hygiene solutions. Known for consumer-facing names such as Kleenex, Huggies, Kotex, Cottonelle and Scott, as well as professional offerings under Kimberly-Clark Professional and KleenGuard, the company supplies goods to retail, healthcare and institutional customers.
Founded in 1872 in Neenah, Wisconsin, Kimberly-Clark has expanded from its 19th-century paper-making roots into a global household and workplace products company.
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